{"id":572233,"date":"2020-06-16T04:29:17","date_gmt":"2020-06-16T04:29:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/"},"modified":"2020-06-16T04:29:17","modified_gmt":"2020-06-16T04:29:17","slug":"earnings-watch-sodic-orascom-investment-b-investments-raya","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/","title":{"rendered":"Earnings watch: Sodic, Orascom Investment, B Investments, Raya"},"content":{"rendered":"<p><strong>EARNINGS WATCH-<\/strong> <strong>Sodic reported a net profit of EGP 28 mn in 1Q2020,<\/strong> down from EGP 161 mn in 1Q2019. Revenues came in at EGP 429 mn from EGP 941 mn in the first quarter of 2019. Low interest income following 750 basis points worth of rate cuts by the central bank since January 2019, along with lower revenues due to a lower number of deliveries, weighed on the company\u2019s bottom line, it said in its <a href=\"https:\/\/s3.amazonaws.com\/inktankir2\/sodic\/1Q20-earnings-release-vff.pdf\">earnings release (pdf)<\/a>. \u201cLockdowns and mobility restrictions decrease the urgency for customers to come in for handovers,\u201d Managing Director Magued Sherif said. The upmarket real estate developer disbursed EGP 5 mn so far for donations and initiatives to support efforts against covid-19 and has redirected its marketing resources to support the cause, Sherif noted.<\/p>\n<p><strong>Looking forward:<\/strong> \u201cWe are lucky to operate in a sector with very strong local demand fundamentals and we continue to believe in the long-term drivers of growth in our market,\u201d Sherif added in a note to the earnings that\u2019s worth reading in full. \u201cWe are looking [at] \u2026 a challenging but rewarding year ahead as we continue to invest in our brand and ensure we distinguish ourselves in this market.\u201d<\/p>\n<p><strong>Egypt Kuwait Holding (EKH) posted a net profit of USD 40.7 mn in 1Q2020, up 15%<\/strong> from USD 37.5 mn a year earlier, according to the company\u2019s <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/ekh\/EKH-ER-1Q2020-E-FINAL.pdf\">earnings release (pdf)<\/a>. Revenues increased by nearly USD 20 mn y-o-y to reach USD 160.9 mn. Growth came primarily from the company\u2019s energy and energy-related segment, which saw revenues rise an \u201cimpressive\u201d 46% y-o-y to USD 51.8 mn.<\/p>\n<p><strong>Looking forward:<\/strong> EKH is \u201coptimistic\u201d in the long run about its long-term growth prospects, and expects to see \u201can overall positive performance\u201d in 2Q2020 despite the second quarter of the year typically being a low season for its businesses, Chairman Moataz Al Alfi says. The company also expects to maintain its growth momentum despite pressure from the covid-19 pandemic, particularly after managing to \u201cbuck the prevailing downtrend across all businesses\u201d due to the crisis.<\/p>\n<p><strong><a href=\"http:\/\/binvestmentsegypt.com\/\">B Investment\u2019s<\/a><\/strong><strong> consolidated net profits after tax were up 6.2% y-o-y in 1Q2020 to EGP <\/strong><strong>37.7 mn<\/strong>, from EGP 35.5 mn in 1Q2019, the company said in <a href=\"https:\/\/bit.ly\/37vxlLL\">a regulatory filing (pdf)<\/a>. The company\u2019s revenues for the quarter increased 8% y-o-y to EGP 54.2 mn, from EGP 50.2 mn in the first quarter of last year.<\/p>\n<p><strong>Orascom Investment Holding reported a net loss of EGP 425.2 mn in 2019<\/strong> after making a EGP 865 mn profit the previous year, according to the company\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%88%D8%B1%D8%A7%D8%B3%D9%83%D9%88%D9%85-%D8%A7%D9%84%D9%82%D8%A7%D8%A8%D8%B6%D8%A9-%D9%82%D9%88%D8%A7%D8%A6%D9%85-%D9%85%D8%AC%D9%85%D8%B9%D8%A9-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-15-06-2020.pdf\">financial statements (pdf)<\/a>. Revenues fell 12% to EGP 1.17 bn during the year from EGP 1.33 bn in 2018. \u201cGoing forward the covid-19 outbreak may negatively impact amongst others our supply chain, workforce, operations, demand of our end markets and liquidity,\u201d the statement said. \u201cBased on our current knowledge and available information, we do not expect covid-19 to have an impact on our ability to continue as a going concern in the foreseeable future.\u201d<\/p>\n<p><strong>Raya Holding for Financial Investments reported losses of EGP 69 mn during 1Q2020, <\/strong>after making a EGP 26 mn loss during the same period last year, according to the company\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/15-06-2020-%D8%B1%D8%A7%D9%8A%D8%A9-%D9%85%D8%AC%D9%85%D8%B9%D8%A9.pdf\">quarterly financials (pdf)<\/a>. Revenues during the period rose slightly to EGP 2.4 bn, compared to EGP 2 bn last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Sodic reported a net profit of EGP 28 mn in 1Q2020, down from EGP 161 mn in 1Q2019. Revenues came in at EGP 429 mn from EGP 941 mn in the first quarter of 2019. Low interest income following 750 basis points worth of rate cuts by the central bank since January 2019, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[302,72,618,3707,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572233","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-earnings","tag-enterpriseam","tag-orascom-investment-holding","tag-raya-holding-for-financial-investments","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"008d4ea3-38e7-4f52-add6-b17bea0bf38d","is_powered_by":true,"section_story_id":"06281e82-be42-429f-9669-c84dd6a74985","story_type":"1","photo_url":"","photo_position":"above","related_issue":[572220],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Earnings watch: Sodic, Orascom Investment, B Investments, Raya - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Sodic, Orascom Investment, B Investments, Raya\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Sodic reported a net profit of EGP 28 mn in 1Q2020, down from EGP 161 mn in 1Q2019. Revenues came in at EGP 429 mn from EGP 941 mn in the first quarter of 2019. Low interest income following 750 basis points worth of rate cuts by the central bank since January 2019, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-16T04:29:17+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings watch: Sodic, Orascom Investment, B Investments, Raya\",\"datePublished\":\"2020-06-16T04:29:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/\"},\"wordCount\":528,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"earnings\",\"EnterpriseAM\",\"Orascom Investment Holding\",\"Raya Holding for Financial Investments\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/\",\"name\":\"Earnings watch: Sodic, Orascom Investment, B Investments, Raya - 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The increase came on a 275% y-o-y increase in revenues \u201creflecting the ramp up in delivered units. Revenues were bolstered by deliveries in Eastown Residences and Westown Residences that combined\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625845,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/16\/earnings-watch-sodic-efg-hermes-cleopatra-b-investments-domty-raya-gth-oriental-weavers\/","url_meta":{"origin":572233,"position":1},"title":"Earnings Watch: SODIC, EFG Hermes, Cleopatra, B Investments, Domty, Raya, GTH, Oriental Weavers","author":"enterpriseam admin","date":"16 August 2018","format":false,"excerpt":"EARNINGS WATCH- SODIC reported 10% y-o-y growth in its bottom line to EGP 375 mn in 1H2018 with a strong net profit margin of 36%, the company said in its earnings release (pdf). Revenues for the six-month period came in at EGP 1.05 bn, compared to EGP 1.17 bn in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602788,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/07\/orascom-investment-reports-net-profit-of-egp-865-6-mn-in-2018\/","url_meta":{"origin":572233,"position":2},"title":"Orascom Investment reports net profit of EGP 865.6 mn in 2018","author":"enterpriseam admin","date":"7 April 2019","format":false,"excerpt":"EARNINGS WATCH- Orascom Investment Holding reported a net profit of EGP 865.6 mn in 2018, up from EGP 453.1 mn in 2017, according to the company\u2019s earnings release (pdf). The company\u2019s revenues for the year came in at EGP 1.75 bn, up from EGP 1.49 bn in 2017.","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648804,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/earnings-watch-orascom-elsewedy-electric\/","url_meta":{"origin":572233,"position":3},"title":"Earnings watch: Orascom, Elsewedy Electric","author":"enterpriseam admin","date":"12 April 2017","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric reported a 209% y-o-y increase in its consolidated net profit after minority interest to EGP 3.9 bn in 2016, according to its earnings filing. Revenues rose 30% y-o-y to EGP 24.6 bn during the year, the company said in its earnings release, which quotes CEO Ahmed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598918,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/12\/earnings-watch-palm-hills-orascom-investment-holding\/","url_meta":{"origin":572233,"position":4},"title":"Earnings watch: Palm Hills, Orascom Investment Holding","author":"enterpriseam admin","date":"12 June 2019","format":false,"excerpt":"EARNINGS WATCH- Palm Hills Development (PHD) reported a 37% y-o-y drop in 1Q2019 net profit to EGP 141.2 mn, down from EGP 224.2 mn a year earlier, according to the company\u2019s earnings release (pdf). Revenues for the quarter fell 35% y-o-y to EGP 958.1 mn. The company\u2019s board announced on\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621654,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/earnings-watch-raya-contact-center-reports-3q2018-results\/","url_meta":{"origin":572233,"position":5},"title":"Earnings watch: Raya Contact Center reports 3Q2018 results","author":"enterpriseam admin","date":"14 November 2018","format":false,"excerpt":"Raya Contact Center reported (pdf) a 14% y-o-y increase in consolidated net profit in 3Q2018 to EGP 48.5 mn, up from EGP 42.5 mn in 3Q2017. Revenues for the quarter were up 21.5% y-o-y to EGP 238.4 mn, up from EGP 196.3 mn during the same period last year.","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=572233"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572233\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572220"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572233"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=572233"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=572233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}